Can I retire at age 56 with 873,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $873,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$72,092$71,449$70,823$70,211$69,614$67,225
2 years$35,689$35,024$34,380$33,755$33,150$30,766
3 years$23,556$22,889$22,246$21,627$21,031$18,730
4 years$17,491$16,826$16,190$15,581$15,000$12,797
5 years$13,853$13,191$12,564$11,968$11,403$9,304
6 years$11,428$10,772$10,153$9,571$9,023$7,031
7 years$9,697$9,046$8,437$7,869$7,338$5,452
8 years$8,399$7,754$7,156$6,601$6,087$4,306
9 years$7,390$6,751$6,163$5,623$5,126$3,447
10 years$6,584$5,951$5,373$4,847$4,368$2,789
11 years$5,924$5,298$4,730$4,218$3,757$2,274
12 years$5,375$4,755$4,198$3,700$3,255$1,865
13 years$4,911$4,297$3,751$3,266$2,839$1,538
14 years$4,513$3,906$3,370$2,900$2,488$1,273
15 years$4,169$3,568$3,043$2,586$2,191$1,058
16 years$3,868$3,274$2,759$2,315$1,936$881
17 years$3,602$3,015$2,510$2,080$1,717$735
18 years$3,367$2,786$2,292$1,875$1,527$615
19 years$3,156$2,582$2,098$1,694$1,361$515
20 years$2,967$2,399$1,925$1,534$1,215$432
21 years$2,796$2,235$1,771$1,392$1,088$362
22 years$2,641$2,086$1,632$1,266$975$304
23 years$2,499$1,951$1,507$1,153$875$256
24 years$2,370$1,828$1,394$1,052$787$215
25 years$2,251$1,716$1,291$960$708$181
26 years$2,141$1,612$1,197$878$638$153
27 years$2,040$1,517$1,112$804$575$128
28 years$1,946$1,430$1,033$736$519$108
29 years$1,858$1,349$962$675$468$91
30 years$1,777$1,274$896$620$423$77
31 years$1,701$1,204$835$569$383$65
32 years$1,630$1,140$779$523$346$55
33 years$1,563$1,079$728$481$313$46
34 years$1,501$1,023$680$443$284$39
35 years$1,442$970$636$407$257$33
36 years$1,387$921$595$375$233$28
37 years$1,334$875$556$346$211$23
38 years$1,285$831$521$319$191$20
39 years$1,238$790$488$294$173$17
40 years$1,194$752$458$271$157$14
41 years$1,151$716$429$250$143$12
42 years$1,111$682$403$231$129$10
43 years$1,073$649$378$213$118$8
44 years$1,037$619$355$197$107$7
45 years$1,003$590$333$182$97$6
46 years$970$563$313$168$88$5
47 years$938$537$294$155$80$4
48 years$908$513$276$143$73$4
49 years$880$490$259$132$66$3
50 years$852$468$244$122$60$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $873,000, adding $6,586 every year, while hoping to spend $33,508 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 52/25/23 Blend
55$873,000$873,000$873,000$873,000
56$968,839$922,570$909,039$1,012,715
57$1,032,009$932,124$903,840$1,053,282
58$1,100,498$941,023$897,343$1,093,400
59$1,174,816$949,199$889,470$1,136,344
60$1,255,518$956,581$880,139$1,182,395
61$1,343,220$963,093$869,262$1,231,864
62$1,438,596$968,652$856,750$1,285,094
63$1,542,388$973,172$842,507$1,342,467
64$1,655,415$976,560$826,434$1,404,403
65$1,778,576$978,720$808,428$1,471,367
66$1,912,859$979,546$788,379$1,543,872
67$2,059,355$978,927$766,173$1,622,488
68$2,219,261$976,747$741,693$1,707,842
69$2,393,899$972,881$714,812$1,800,628
70$2,584,720$967,196$685,402$1,901,613
71$2,793,324$959,551$653,326$2,011,645
72$3,021,473$949,798$618,442$2,131,660
73$3,271,104$937,779$580,600$2,262,692
74$3,544,352$923,327$539,647$2,405,884
75$3,843,570$906,263$495,418$2,562,498
76$4,171,345$886,401$447,746$2,733,929
77$4,530,529$863,541$396,452$2,921,715
78$4,924,261$837,473$341,351$3,127,558
79$5,355,999$807,973$282,250$3,353,334
80$5,829,553$774,806$218,948$3,601,116
81$6,349,118$737,722$151,233$3,873,193
82$6,919,315$696,456$78,886$4,172,092
83$7,545,233$650,731$1,676$4,500,601
84$8,232,479$600,249$0$4,861,800
85$8,987,229$544,699$0$5,278,895
86$9,816,288$483,751$0$5,737,555
87$10,727,151$417,055$0$6,241,570
88$11,728,073$344,245$0$6,795,575
89$12,828,153$264,929$0$7,404,680
90$14,037,411$178,696$0$8,074,520
91$15,366,888$85,114$0$8,811,306
92$16,828,748$0$0$9,621,889
93$18,436,392$0$0$10,518,299
94$20,204,586$0$0$11,530,081
95$22,149,598$0$0$12,643,140
96$24,289,352$0$0$13,867,746
97$26,643,596$0$0$15,215,215
98$29,234,091$0$0$16,698,014
99$32,084,810$0$0$18,329,880
100$35,222,171$0$0$20,125,950